Wall Street analysts expect Palomar (PLMR) to post quarterly earnings of $2.06 per share in its upcoming report, which indicates a year-over-year increase of 35.5%. Revenues are expected to be $221.99 million, up 41.4% from the year-ago quarter.
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
In light of this perspective, let's dive into the average estimates of certain Palomar metrics that are commonly tracked and forecasted by Wall Street analysts.
The collective assessment of analysts points to an estimated 'Revenues- Net investment income' of $15.34 million. The estimate indicates a year-over-year change of +35.5%.
Analysts predict that the 'Revenues- Net earned premiums' will reach $205.55 million. The estimate indicates a change of +41.9% from the prior-year quarter.
Analysts expect 'Loss Ratio' to come in at 31.0%. Compared to the current estimate, the company reported 25.7% in the same quarter of the previous year.
Analysts forecast 'Combined Ratio' to reach 75.5%. Compared to the present estimate, the company reported 75.9% in the same quarter last year.
According to the collective judgment of analysts, 'Expense Ratio' should come in at 44.5%. The estimate compares to the year-ago value of 50.2%.
The combined assessment of analysts suggests that 'Adjusted combined ratio' will likely reach 73.1%. Compared to the current estimate, the company reported 71.7% in the same quarter of the previous year.
View all Key Company Metrics for Palomar here>>>
Palomar shares have witnessed a change of -3% in the past month, in contrast to the Zacks S&P 500 composite's no move. With a Zacks Rank #3 (Hold), PLMR is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Palomar Holdings, Inc. (PLMR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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